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12 Days to the Tariff Deadline: What August 19 Actually Means for Your Wallet

  Published August 7, 2026 Trade Minister Dominic LeBlanc is back in Washington, Mark Carney says his tone is "quite firm," and the clock is running out on a deal. Here's what's actually on the line — and why it matters even if you've never shipped a case of wine across the border. The countdown: At 12:01 a.m. ET on August 19, new 50% U.S. tariffs are scheduled to hit roughly $20 billion worth of Canadian exports — with or without a deal. What's actually happening on August 19 On July 20, President Trump signed three separate proclamations under Section 338 of the Tariff Act of 1930 — a Depression-era provision that had never been used this way before. Each proclamation targets a different Canadian sector the U.S. says is treated unfairly: motor vehicles, alcoholic beverages, and dairy. Every covered good gets hit with an additional 50% tariff the moment it crosses into the U.S. The headline categories get the attention, but the actual product lists — buried ...
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Stocks Rise as Weak Economic Data Sink US Yields

                                        

Wall Street traders sent stocks higher and bond yields fell as a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year. In a shortened session ahead of the US holiday, the S&P 500 headed toward a fresh all-time high.

In summary:

  • The S&P 500 rose to around 5,520.
  • Tesla Inc. extended its rally into a seventh straight session.
  • Amazon.com Inc. fell.
  • Treasury 10-year yields fell seven basis points to 4.36%.
  • Swap traders project almost two rate cuts in 2024, with the first in November.
  • The dollar headed toward its biggest drop since mid-May.

Investors are closely watching Friday’s employment data for further insight into the state of the labor market. Economists anticipate a 190,000 gain in nonfarm payrolls, with the unemployment rate holding at 4%.


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